properly developing is no longer just for grown-ups more and more parents are setting up family property businesses to make the kids that keep raise your hand if you want grabbing raise your hand if you don't want paddock but working with your own flesh and blood can prove to be a bumpy guys okay [Music] all over the country parents are struggling to meet the soaring costs of university tonight I meet two families who think the property development might be the answer to their problems in Hartford mature art student Karen Murphy reckons that this tiny Victorian cottage is the perfect gap year project for her 18 year old son Ben Karen is project managing and with all the profits going to his college fund she's enlisted Ben as labor I gave him the whole summer holidays to be lazy but now he's got to do something I don't think I'm lazy I think her motivation only challenged eighty miles away in Vulcan West Sussex financial adviser mark Farrell and his wife Linda are also turning property development into a family business with their teenage children Ben and Hannah we decided to start property developing well may need to raise university fees per us and also I guess to spend time as a family but mark and Linda are taking a major risk with their children's future they've remortgaged the family home and bought this a 1960s property that looks so dated they'll have to work miracles to make it appealing it's a mammoth job that will take up the whole of the summer holidays and I want to know how this family affair is really going to work we have a meeting around our table at home and we discuss what we're going to do the following week and make major decisions do you think this is gonna work well I mean you think I have it all sorted out it's worked so far but we haven't actually had to do anything so I think that's probably the case Sarah will them but we'll see how it goes the reality will not be easy because the ground floor of this house has all sorts of problems there's a tiny garage that's too small for a family car a dilapidated lean-to and a cracked kitchen worst of all the only reception room has the front door off one side and the stairs of the other making it little better than a corridor but the Farrell's aren't dealing with any of these problems instead they plan to build a huge kitchen diner on the ground floor of a two-story extension for which they already have planning permission the problem is they will be left with an impractical house that has an unusable and rather odd-looking garage slap-bang in the middle of it the extension is gonna be back from the garage depending how we disguise it with bushes hopefully it won't look as those duck right in the middle now we've had lots of different ideas around our board meetings and this is the best we could come up with to have the garage in the middle of the house which it will be once you've extended to the side it just feels a little clumsy the existing garage could be put to far better use as a spacious entrance hole then building a bigger extension to the side would allow for proper size garage that would be big enough to comfortably fit a modern family car they'd still be plenty of room behind for a generous sized kitchen diner and you wouldn't have to walk through the sitting room to get to the rest of the house because the stairs would be relocated into the new entrance hall [Music] solving all the problems for the downstairs lamps we were going to do exactly that the advice from the Builder was that the levels were wrong you would need to dig out the concrete floor that the garage is just built up too high and he his recommendation was that was just too much extra cost that would be more difficult to recoup that kind of sum he doesn't want to do it no one to do it but I don't have to make a justification for leaving it there that the floor knees sticking out myself the garage is a garage it's in the middle is in the middle are you relaxing to go back to planning at this stage if we thought it was absolutely the right thing to do then I haven't got an objection to going back to planning but yeah I wouldn't want to delay it too much even if it means going back to planning the Farrell family have to make the right decisions now to maximize the value of their property they've bought the house for two hundred eighty five thousand pounds have a budget of one hundred and eight thousand and hope to sell for four hundred fifteen thousand pounds by buying in a rising market they could get a lot more but as it stands there looking at a slim twenty-two thousand pound profit what's worse a share of that is going to the Builder he'll forgo is normal profit margin on the basis that we will give him a percentage of our profit when we sell so what percentage profit to you we again we still need to do the absolute figures but we're gonna sit down and then we'll work out exactly what those costs will be right before you start when you get a contract with him I mean no you tell him as he should I would if I was you because it is quite complex and and from my point of view as an outsider looking at it I just think oh my god some minefields entering into a partnership without a formal contract is brave and perhaps a little foolhardy a solicitor would charge around three hundred pounds to draw one up which i think is money well spent the very least you should do is put the agreement down on paper yourselves if the ferals deal with the bill that goes sour they could easily end up waving goodbye to both their profit and their children's university fund in hartford the Murphy family could have an equally hard time filling up the college coffers as mature art student Karen wants to stamp her artistic vision all over this development it just cried out really what it wanted restoring it just needed some TLC and I really just wanted to do it Ben roped into workers labor isn't as enthusiastic when I first saw the house that is thought good god what has she bought this Victorian property is certainly a challenge it start dilapidated and will need a lot of work to make it a profitable development Karen bought the house for one hundred and seventy thousand pounds and has an impossibly tiny budget of just twenty thousand she's aiming to smash the ceiling price in the road and sell for two hundred and ten thousand pounds making a 20,000 pound profit the problem is some of Karen's ideas could lower rather than raise the value of this property I'd like to incorporate glass Malling in the bathroom and in the kitchen doing glass flashbacks and I also want to put in things like fiber optic Lighting's in the ceiling in the bathroom and up lighters you're trying to make something out of this cottage then it simply isn't this is a small quaint cute cottage and that's what it is it's stuffed full of original features you'd and you'll find there under the doors and they've got you've got the original cottage doors here what do you reckon I think going for a certain amount of modernist would be a good idea but I think fiber optics glass really modern lighting effects might be taking it a tad too far in the traditional cottage and to that you say nothing lousy for you yes this is the charm of this house then go with it he's what you've got you have enough money not to cut yeah the last thing Ben wants to see is his college fund disappearing in a creative flight of fancy if mom gets her way it could be one very hard art student in Hartford Karen Murphy is planning to turn property development into a family business with her eighteen year old son Ben she's hoping they'll make 20,000 pounds from this Victorian terraced house to pay for Ben's way through University it's a tiny worn-out property and six-foot-four Ben is having a hard time seeing its potential laboring on this site and do you think this is a wise plan I think the problem is Karen's vision is so individual it may well put off a lot of buyers she's determined to use the property to showcase her own artwork and have plans for the layout adjuster singular there are two double bedrooms upstairs which Karin plans to leave as they are downstairs there's a lounge a kitchen and the property's only bathroom here Karen wants to relocate the kitchen to an unorthodox location at the front of the house she then plans to move the land to the back building out into the courtyard with a costly glass-walled extension these plans are unnecessary and on that minuscule 20,000 pound budget complete fantasy I think with the amount of money you've got you want to keep it as simple as possible this but I'm not sure what you're achieving by by doing all of this work my brush and I'll put in the kitchen into the front room is because of the noise from the road really man do you agree with your mum well I personally don't really like the idea of putting the kitchen in the front of room I think I'm a traditional I would much rather walk into a sitting room there kitchen I think you won't be alone in not wanting to walk off the streets in the kitchen I think there's a much better solution you know there is one thing that if you do it it will really sell this house and it's going to make the most that you possibly can on the development and that is to get a bathroom upstairs and I think you can do it and I think you can get a bathroom in this room there's enough room in this back bedroom to build an all-important upstairs bathroom still leaving a second bedroom that's large enough to take a small double bed this would also free out room downstairs to create a much-needed extra living space of the kitchen without the need to pay for a costly extension my concern is that I'd be taking away from this good-sized double bedroom but it's still not a bad size and I think it will make a massive impact there's a lot of people won't buy a house if the bedroom the bathroom it does take away my wonderful wow factor that I was going to put in my bathroom downstairs well what I plan to do down there was to have all a whole glass wall all the way around I'm not convinced that you should be using this house as a showcase for kind of creative class here and there so maybe it's not a bad thing to lose bathroom okay Karen needs a complete rethink if she doesn't Ben could end up without a single penny for University in Buncombe it's week one of the feral families development and work is underway to build the foundations for their massive extension on the side of the property I think they should make their extension even bigger to accommodate a proper sized garage as well as their proposed kitchen diner but the Farrell's are digging their heels and we decided not to move the garage because we didn't want to wait for planning which would then delay us another eight weeks and actually incur more mortgage costs they're fixed on leaving the garage right in the middle of the property but it's the perfect spot for an impressive entrance hall it would give this house the facelift it so badly needs and provide a new location for those awkward stairs in the lounge what's more this garage is simply too small to be practical and so I've come along with three different sized cars for a bit of experiments I can't believe that a builder would put a house out that doesn't fit a normal sized car have you tried getting a car in it I think the car going I reckon yeah then you reckon that's fine okay yeah thank you bring them in first up is a small 4x4 of family favorites [Music] I'm not convinced that climbing out of the penis in an acceptable way to enter your vehicle next it's the typical family saloon it's not at all is it finally a microcar hardly a winner with the family market car the same size as a scooter so what you reckon front hall garage what about you what's the votes I'm liking this so unanimous for Odie voting to keep it your house your money I don't think I've ever seen a family quite this united the truth is it's all about finances the Farrell's have finally drawn up an agreement with their builder giving him a 15% share of the profits but now they're so fixated on keeping the cost down they're not making the right choices for this development their builder has agreed to give them labor and materials for cost at 53 thousand pounds they want to get the kitchen and two bathrooms for an ambitious ten thousand pounds seven thousand has been allocated for furnishing and decoration and they've allowed thirty-one thousand for professional costs and interest repayments with a contingency of seven thousand the Farrell's total budget is a hundred and eight thousand pounds but I'm not sure that's enough to make the very best of this property inside the biggest problem is the corridor light living room which is just a thoroughfare for the rest of the house the solution of Farrell's have come up with is in my opinion just another compromise so this gives you that corridor so that's everything to everyone that is to achieve we've got front door all the way yes with us stay awake not off the lounge anymore they plan to chop up the space by building a corridor from the front door to the stairs making one spacious area into two smaller and much less appealing living rooms the Farrell's are in danger of selling themselves and their university fund seriously short in Hartford the Murphy family are two weeks into their development they've decided not to move the kitchen to the front of the house but they're sticking to their guns over the bathroom I think it's a bit much to move it upstairs all plumbed in downstairs already one toilet does it really matter the problem is it will matter to most people Karen and Ben won't get their ambitious two hundred and ten thousand pound asking price without moving the bathroom not having a bathroom downstairs and having it upstairs it's going to change this house from being an okay layout to a really good layout and it'll make it stand out from all the other houses on the street we'd rather have an upstairs bathroom Oh personally I'm not it doesn't bother me it doesn't wouldn't bother you climbing up and down these tiny little stairs and if you have somebody staying who wants to go to bed early and you were still wanting to be out you did have to come downstairs in their dressing gown into the bathroom here they live have to be saying hello to all the guests going upstairs banging their heads on the way coming back down it's really impractical layout bear in mind the fringe benefit of having the bathroom says that you end up with a really nice space down here which will work perfectly for your potential market it's a make-or-break decision and two days later the Murphy's have made up their minds I've decided that's definitely going to go with her plan move the bathroom upstairs and to make the downstairs bathroom into the dining room I've had some really good ideas and really turn it into a really sexy little bathroom a great decision and while I hope Karen doesn't get too carried away with her designs it's great to see her so keen about the project which is more than can be said for them I would have liked him to be much more enthusiastic I'm wanting to get really involved but he's rather too fond of his bed at the moment I don't think there was ever really a chance of me being on site for his o'clock in the morning no no I've left school now I'm quite happy to never get up at 7 o'clock again Ben's not on site very often and I suspect he isn't taking his laboring role too seriously judging by his Footwear my shoes are filled his laid-back demeanor is certainly not helping the site move forward delays cost money and Ben needs to remember it is his university fund that he's eating into 80 miles away in Baulkham the Farrell family are showing a much more unified front still need a cement mixer an hour that's fine it's week eight of the development and they're on budget and on schedule but leaving the garage in the middle of the house is doing nothing to improve this already unattractive property and I'm worried it will be very difficult to sell the Farrell's are beginning to agree and they set off as a family to do some research I do like the pitch truths I think that takes away the plain 'less after a whole day traipsing around the neighborhood there's one inescapable conclusion basically we've got a house that looks like a bit of an ugly duckling and we just really don't know how to turn it into a beautiful swan well Hannah there is one solution that will completely transform the front of this house and mum and dad will be glad to know it's not gonna cost a fortune what I'm suggesting is that you use some kind of wooden cladding now I've got various examples here this is a painted cladding this is a large thing thermo wood but my favorite would be this cedar cladding here if you can imagine this cladding along the top where the tiles are if you change the garage door you could really transform this place what reckon I like the idea I like the thermal wood how it overlaps but I like the color of the cedar but duty reckon I hide it and like it what do you reckon then I'm not so sure I think maybe it could grow on me it's a pit shed like the advanced with cladding is that it's a cheap to do it's easy to do and your end result is gonna be a more saleable house timber cladding is a popular choice for contemporary buildings you can create a dramatic design with an affordable price tag at around 25 pounds per square meter it's half the cost of more traditional clay tiles you can tailor the wood to suit your style although the rich color of cedar is a popular choice it's a good option for the Farrell's and could transform their mundane property into an eye-catching contemporary home in Hartford making any kind of decision about the development is the last thing on Ben's mind he seriously needs to get stuck into this project and I've decided to intervene for today at least Ben will be my apprentice but I gather you've been doing quite a lot of this in your sandals so I bought your present the biggest things in the universe so today you're gonna help me and we're gonna wire this room so get your boots on and let's get cracking the back box has to be 600 off the finished floor level but measure up the joists so the secrets that has a courses of brick aren't necessarily level which favors it that one you need to tip that out enough so that for the back box fits Karthi installed that be doubly perfect the cable has to run through here you're going to screw the back box the wall and then you just roll it up into a circle and stick it into the box it's out of the way and that's one sale it's when did you go yeah this is great actually he's learnt something now and he can actually come on site and actually gets stuck in with doing an actual part of the trades work yes Caryn's hopes are short-lived with Chopin in a few boxes then Sarah went and then unfortunately we didn't see Ben at all for a little while to be perfectly honest I don't think he's interested wondering if Karen can't find a way of motivating Ben this could spell the end of the Murphy & Son development team back in baulkham the Farrell family are doing a brilliant job of sharing responsibilities top of their agenda is to banish the lackluster appearance of their development I feel clouding the property in wood is the answer and to help them visualize the end result I've organised for them to visit this development just six miles away I may be really loved it I still think tiles the best they just sound normal there's nothing wrong in setting a trend can I just tell you in history more pioneers get shot land settlers and our first development I really don't want to get shot raise your hand if you want planning I haven't got any more hands raise your hand if you don't want to add it it's certainly Democratic but the problem still remains the Farrell's must find a way to give their property a dramatic facelift in bucum the Farrell family are 12 weeks into their ambitious plan to extend this drab and dated property into a luxury family home they're on budget and on schedule and that's because up until now the Farrell family business has been run with the precision of a city boardroom but with Ben and Hannah back at school the balance of power has shifted the carpet afraid I've got a confession to make I've actually taken out the door in the kitchen along the side here down the alleyway the kitchen designer said that it would look better with further more units down the side I would think that on the practical side we do need a back door there yeah it's a little bit annoying she's made that decision with actors but it will make the interior the kitchen far more attractive mum may have taken control but her first decision isn't her best without a side door from the kitchen to the outside anyone buying this family house will have a long trek in with all the shopping [Music] and all the muddy boots will be coming in through the front door on everyone to pick up two bags because the wife's never found so if you have to come through here through the front hallway and then through the doors into the sitting room with your shopping through here through this next door all the way to here you're still going with all your shopping to get to the kitchen now have i illustrated my points one of the big problems of this house is that it flowed very badly you have rectified that by building a hallway but now you're making your new sitting room into a corridor again which you don't have to have by having a door to the side here I guess how many people will think that through was they're looking round about by the house I thought any family would think that's really pretty hard I also I'm not convinced but it's going to look worse the door to come in here and see the kitchen as we've got it designed I think it will look a much better kitchen without the door in it so what do you feel I say large in my I'm not getting in compromising the entire ground floor layout for the sake of a few extra kitchen units is absolute madness but Mum and dad's decision is final in Hartford the Murphy family are seven weeks into their 12-week development labor a pen is as reluctant as I'm quite happy to have as little input as possible just do what I'm told to do and then be done with it it's his university fund at stake and now more than ever Ben needs to be involved in his mom's decisions Karen's determined to shoehorn her own very contemporary glass work into this development as well as installing permanent multicolored light displays throughout the property it's not Karen's very striking 21st century artwork it's the 19th century features that will sell this house and she should be playing up this property's quirky angles original fireplaces and latch doors but there are ways to fuse period features with contemporary style [Music] so I'm taking her and Bend this converted Victorian water tower in there by Hartford Heath what they've done here with this amazing building is work with what they've got and as you'll see in size they're not denying what it originally was they're working with that and that's what I think you have to do with your house so that when it's finished it feels cohesive inside they've made no attempt to disguise the water tank or original brick work but the understated quality of the modern slate flooring and minimal furniture means the new doesn't fight the old this mountain your space bus imagine here there was a fiber optic glass installation on the wall it would be quite long in this room the glass and the lighting issues are about Who I am and what makes it special for it to have been my development as opposed to somebody else's I think it's such a permanent expression of yourself probably you shouldn't weave into the fabric of the building upstairs the bathroom is a purely contemporary room but as a self-contained area this is one place you can make more of a statement and while Karen's first idea sounds really quite inspired I'm planning on taking up the floorboards and casting them in glass and putting back glass floorboards I'm not so sure about the second having fiber-optic lights actually into the side of the bar Oh in the bath yeah I think to have fiber-optic lights in the bath is perhaps taking it one step too far we've got such a tiny bathroom so maybe I'm just trying to make amends for that you have got a tiny bathroom but you've also got a tiny profit margin say okay guard them both closely okay it's a hard truth to swallow for a creative person like Erin I want to do all these really exciting things and I feel a bit upset really that Sarah doesn't seem to share my enthusiasm for the things I want to put in there caryn spirits are low but this cloud has an unexpected server lining it's taken ten weeks but Ben finally realizes he has to step in and give his mum and the development a lift I'd be quite happy to just leave it for somebody else to do it but of course it's me and my mum you know kind of our own boss it's gotta get done so I've got to come down and do it it's really great to see Karen and been working as a team this development is looking like a real family business for the very first time he writes out there been in Baulkham eleven weeks in and only two weeks over schedule the Farrell family is pushing hard to keep the project on track with the development in its final stages choosing the kitchen is the last big decision to be made we've chosen a dark laminate work surface purely for quickness and reduced the cost of the budgets I hope that it will all look okay but it won't you can't stick a cheap laminate work surface in a property you're hoping to sell for over 400,000 pounds mark and Lynda need a rethink just 10 minutes down the road this four-bedroom home is in the same price bracket and also aimed squarely at the family market this I think is the main road that you should be looking at huge room the kitchen breakfast time is so incredibly important in your development because there are a lots of other compromises with the house and this is the one room that you could make truly spectacular and I'm really worried that if you use a laminate on the worktop that one selling feature will be wasted it's no mistake that the work service in this kitchen is costly granites it rarely costs less than 150 pounds a meter but it eases quality and that's exactly what buyers will be looking for the lamina is not what I really wanted because the place that I got the kitchen from and I felt the worktops could all be made to measure delivered on the day and there would be no fuss and that's the reason we didn't so ease really yeah but you've neither have you been particularly keen on it I think it was always a compromise in order to hit deadlines it may be one compromise too far for once the Farrell's are loosening their grip on the purse strings I'm sure it's a decision they weigh regrets [Music] in Hartford 12 weeks after they set out the Murphy family have come to the end of their development [Music] they've turned this Victorian cottage into something quite special by keeping the kitchen at the back of the house and moving the bathroom upstairs they've created a fantastic open plan kitchen diner and on the ground floor at least Karen's toned down her artwork to get the blend of old and new just right this is pretty spectacular isn't it that's the difference is amazing and notice that you didn't go with that fiber optic option in the end yes I thought long and hard about what you've said actually and I thought let's go for something a bit more calming and restful in the space it's not that often that I get has something or cut I could live here and this is one that I just think they've made the very best of upstairs as well pinching space from the second bedroom and creating a bathroom up here has really hauled the property into the 21st century but there might be one area it's been hauled a bit too far I give you the floorboards I think they look great but I've got to say I think the fiber optics in the bath is one step too far and if I was a human this house I think I've got to replace the bar oh I really love it I think this this is my having a bath he's my one time when I actually get to calm down relax and unwind and and I think I'd love to just lying there and that'd be bathed in that lovely yellow water tranquil color but it's any one small flaw in an otherwise spectacular development a question is how much did all of this end up eating into Ben's college fund you originally plan spend 20,000 didn't you yes we have spent 34,000 a lot more although I actually think that the 20,000 was completely unrealistic and 30 fools was just spent support you always wanted to smash the ceiling price in the area which is closer to to about 200,000 you've actually spent two hundred and four thousand so you're gonna have to smash a ceiling price unless you want to make a loss how much do you think it's worth now I'm just hoping that we that it is 210,000 exactly although 220 reckon another guess yeah oh I hope so that if they did sell for 220,000 pounds Ben would have 16,000 pounds to take off to university so what the Asians think kept the actual character of the property but within a modern twist with a contemporary fireplace and the oak flooring is a really clever use of space by maximizing sort the ground-floor accommodation they have really maximized the price itself of the property bit of a personal touch who is the glass tile floor and the fiber optics in the bath great fun but doesn't really add value I value this property at two hundred ten thousand pounds I would value this property at two hundred and fifteen thousand pounds we've had two agents in and they valued it at two hundred and ten thousand pounds and two hundred and fifteen thousand pounds not as good as attacked if you sold at the lowest figure you'd make a six thousand hand profit if you sold at the highest figure you make an eleven thousand pound profit that's fine that's just it's just such a relief that we haven't made no - ten so that's fine at least we haven't made a loss I don't think you should be too despondent you've done such a great job that I think that you've got a very good chance of getting more than the agents suggested got a nice little pots of money whatever it is to go up to you best with well it's got to be good especially with having developed a skill base as well yeah you can go off and do your own development in Swansea now it turns out that the buyers were prepared to pay well over the asking price for this development Karen and been sold it for two hundred and forty thousand pounds making been an amazing thirty six thousand pounds to take to university lucky boy in Baulkham it's the last push to get this property finishing on the market and the Farrell's are brimming with confidence you were hoping to get four hundred and fifteen thousand pounds how much do you think it now is worth for seventy to me would be absolutely realistic in Balkan West Sussex seventeen weeks after they started the feral families development is finally finished [Music] this modest three-bedroom house has been transformed into a substantial family home I personally still have a problem with the way this property looks the garage is an eyesore and their choice of red tiles for the front of this house is clearly suburban it's a different house all together no nice garage though isn't it it is a nice garage but it is still in the middle and let's just hope that whoever buys the house doesn't have a full wife all see the cladding ideas disappeared altogether you've got to admit the tiles do look a lot better than the cladding would have no that's what I'm not admitting to it seemed to be a bit of a feral family trait didn't eat we'd have a chat I'd suggest something you'd go away you think about it and then you'd do something completely different to what you were gonna do or I suggested inside is unrecognizable a new living room has a contemporary feel with some bold if not unusual touches nextdoor the ramshackle lean-to has been turned into a large kitchen diner that should hit the spot with the family market [Music] I'm really glad to see that you up the specification of the workshop this is a fantastic room and a massive success it just has all come together really well though there is one big floor without a separate side entrance it's a long way from the front of the house to the kitchen I would put money on the fact that if you came back to this house in five years someone will have put a door there because it would really annoy them that they have to either come through the house or that parcel they're shopping through the window which would be really annoying kitchen door aside this extension is a valuable addition to the property upstairs they've built a master suite which adds a touch of luxury to this family home the Farrell's have added a huge amount of space to this development the question is did they manage to stick to their hundred and eight thousand pound budget I said how much did you end up spending in the end it's worked out a hundred and eighteen thousand that is a really good achievement you're only ten thousand pounds over what you initially hope their budget anyway so I think that's pretty good [Laughter] the Farrell family kept a remarkably tight grip on their budget labor and materials came in just over at fifty six and a half thousand pounds but they saved on the kitchen and the bathrooms coming in at nine thousand four hundred pounds furnishing and decoration costs rose by thirteen hundred pounds and all of their seven thousand pound contingency went on the cosmetic changes to the front of the property professional costs and interest repayments went from thirty one thousand to thirty seven thousand one hundred pounds meaning the Farrell's final budget rose from 108 thousand pounds to 118 thousand three hundred pounds it's only ten thousand pounds over but their margins were so small to begin with that's eaten up nearly half the profit they were aiming to make that you were hoping to get four hundred and fifteen thousand pounds for this development which would give you a 12,000 pound profit how much do you think it now is worth I think now we'll be very disappointed with 415 because we have spent the extra money for months why I'd be devastated level would you be pleased that I would like 470 the Farrell's now want to sell for a massive fifty five thousand pounds more than they originally hoped for where the agents agree no downside of this room probably is having to go through it to the kitchen which I think may be a slightly off-putting factor to some potential buyers the granite work surfaces in the walnut floor will you finish it off and I think buyers will appreciate that touch of class there's no doubt about it the house big wood completely transformed by the two-story extension a superb master bedroom suite the front of the property is slightly on you you'll having the garage in the middle of it [Music] I would recommend an asking price of 350,000 pounds I value this property at four hundred and ninety thousand pounds I would value this house below hundred thousand pounds I have had three estate agents in to value the property and they've come in at four fifty four ninety and five hundred after you've paid Neal the Builder the 15% that you agreed to pay him for doing this project you would then end up with between forty and eighty three thousand pounds profit that's a very big university fund I think it is a very very successful property development you have been in a rising market and this is a very very popular place to live and what is available is rising fast and valued right now it's superb if they can come out of university debt-free that's that's our goal that's what we want to achieve first they've got to find a buyer prepared to pay up to half a million pounds for the property it's an ideal house for entertaining we do quite a bit of entertaining so it's great Wow they say it's a big bedroom isn't it if you're gonna spend half a million on a house I think you need to get sort of arriving you can't pull off and think wow this is the house it's a lot of money to spend and it just doesn't do that for me sure I think the front of the house looks a little bit strange with the garage being right in the middle probably would have made more sense if the garages Auber on the wetland side the Farrell's have made some mistakes but this property's value will have been massively boosted by a fast rising market so is this the start of a huge family property Empire I think it could be I think we've really I've certainly enjoyed working together I think some parts are enjoyable and some interesting word to use spending time with the family is quite you know you don't really get to do that that much I would like to do something completely different next I've learned a lot from this I'd like to do perhaps a new build or maybe a small refurbishment you get a bit of a bug then you both the Farrell's in Baulkham and the Murphy's in Hartford took a big gamble turning to property development to fill up their college fund but it's paid off the children are well on their way to getting through University without mountain of student debts and these days that is a rare privilege indeed two months later the Farrell family sold the property for five hundred thousand pounds making a great eighty three thousand pound profit and they're already on the look out their next developments [Music] [Applause] [Music] [Music] you [Applause] you you
